Egypt-based proptech startup Birdnest has closed an undisclosed pre-Series A funding round to expand its footprint in its home market and venture into new ones.
Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest offers innovative furnishing services and rental management solutions to maximize returns for real estate investors and provide value for tenants.
The startup secured the pre-Series A funding from investors including Beltone Venture Capital and CI Venture Capital. While the amount remains undisclosed, the funding was raised in exchange for a 20 percent stake in the company. Birdnest plans to use the funds to expand its regional quality team, further develop its technology, and implement aggressive marketing initiatives.
The strategic use of these funds is expected to significantly expand Birdnest’s local footprint in Egypt and scale its operations across key regional markets, including Athens, Dubai, and Riyadh.
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“This partnership with Beltone Venture Capital, a firm with deep roots in investment banking, provides us with more than just capital. It equips us with the strategic financial infrastructure essential for our next phase of growth,” said El-Nahawy.
Ali Mokhtar, CEO of Beltone Venture Capital, expressed excitement about supporting Birdnest and its leadership team in achieving their vision to lead and innovate the real estate sector in the MENA region.
“Birdnest has demonstrated strong operational performance, and with its ambitious expansion plans, it is well-positioned to become the leading proptech company in the region,” Mokhtar said.
